CIMdata PLM Industry Summary Online Archive
7 August 2008
Financial News
Magma Announces Selected Preliminary Results for First Quarter, Will Revise Fiscal 2009 Guidance
Magma® Design Automation Inc. announced selected preliminary results for its fiscal 2009 first quarter, ended Aug. 3, 2008. Magma estimates total revenue for the first quarter is in the range of $44.5 million to $45.5 million, compared to its previous target revenue range of $50.0 million to $51.5 million. Magma estimates first-quarter GAAP earnings per share to be a loss in the range of $(0.43) to $(0.38), compared to its previous target of a loss in the range of $(0.38) to $(0.36), and non-GAAP earnings per share to be in the range of $(0.04) to $0.01, compared to its previous target range of $0.07 to $0.09. A table providing a reconciliation of selected preliminary non-GAAP results to preliminary GAAP results appears below.
Non-GAAP net income for the first quarter of fiscal year 2009 excludes the effects of amortization of intangible assets, deferred stock-based compensation, interest expense, debt discount accretion and restructuring charges. A reconciliation of Magma's selected preliminary non-GAAP results to GAAP results is included in this press release.
The first-quarter results were due to delays in customer purchasing decisions and to channel transition. These results are preliminary and subject to the company's management completing its customary quarterly close.
Magma is scheduled to release final results for its first quarter and to announce revised guidance for fiscal year 2009, ending May 3, 2009, in its first-quarter earnings release on Aug. 28, 2008.
Earnings Conference Call
Magma will discuss results for its first quarter, as well as financial guidance, during a live conference call Aug. 28, 2008 at 2 p.m. PDT (5 p.m. EDT). The call will be available by both webcast and telephone. To listen via webcast, visit the Investor Relations section of Magma's website at http://investor.magma-da.com/events.cfm. To listen via telephone call either of the numbers below:
U.S. & Canada: (888) 219-1456 , code #9688422
Elsewhere: (913) 312-1227 , code #9688422
Following completion of the call, a webcast replay will be available at http://investor.magma-da.com/events.cfm through Sept. 4, 2008. Those without Internet access may listen to a replay by telephone through Sept. 4 by calling:
U.S. & Canada: (888) 203-1112 , code #9688422
Elsewhere: (719) 457-0820 , code #9688422
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